Tether introduced the Alloy cryptocurrency, backed by gold

Tether has announced the launch of a new digital asset called Alloy, which is backed by gold and pegged to the US dollar. 

This product was developed by Moon Gold NA and Moon Gold El Salvador, both part of the Tether Group, and combines the stability of gold with the benefits of digital currency.

Users can create  aUSDT tokens on the Ethereum network using Tether Gold as collateral. The Alloy platform also supports the creation of various linked assets, which expands their management capabilities.

Tether Gold (XAUT) is a stablecoin representing one troy ounce (31.1 grams) of gold on the Ethereum blockchain. The announcement emphasizes that Alloy aims to simplify gold transactions for institutions and integrate it into investment portfolios.

The new aUSDT is backed by real physical gold stored in Switzerland. The purpose of this new stablecoin is to provide a secure and stable digital asset pegged to the value of the US dollar, as well as backed by a tangible asset, providing an additional level of security and stability for users.